Meta Platforms (META.US) has signed a licensing agreement with generative AI company Midjourney to integrate its innovative “aesthetic technology” into Meta’s future products. This collaboration, announced by Meta’s Chief AI Officer Alexandr Wang, aims to create a synergy between the teams to enhance image generation capabilities, thus facilitating the rapid launch of new creative features for users and advertisers. By leveraging Midjourney’s image generation advancements, Meta strives to lower content production costs and boost user engagement, positioning itself against strong competitors like OpenAI and Google. Established in 2022, Midjourney enables users to generate images from text via a subscription model and recently launched its first AI video model, V1. This partnership is part of Meta’s strategic shift to enhance and restructure its AI framework, focusing on acquiring top talent and improving its AI capabilities amidst a competitive landscape. The financial terms of the agreement remain undisclosed.
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